After corporate travel merger, is Anglo-French eyeing more of Ken-Air?

24 January 2002

SINGAPORE - With the merger of the corporate travel arms of Anglo-French Travel (AFT) and Ken-Air Travel Services last month, industry sources say AFT is one of the parties working on acquiring Ken-Air's leisure division.

"There have been quite a number of interested parties and Anglo-French is one of them," said one observor. "The fact that they (Ken-Air) are talking to potential buyers can be seen in two ways: the owners may want to get out of the business or want somebody else to run it."

Last month's merger of the corporate travel arms of both agencies - the new entity has not been named - has brought together about 100 staff. In recession-hit Singapore, where the government has been warning of more layoffs at least for the first half of the year, some staff may be asked to go.

"In an M&A (merger & acquisition), in the "A" part, there'll be some attrition.

"The corporate travel side deal was an "M" but this (the rumoured acquisition) is an "A", said a source.

In times like this, there will always be a shakeout and it's sad it has to happen to a very popular name," said the source.

At presstime, both AFT chairman Lee Liat Cheng and Ken-Air's chief operating officer Buck Low could not be contacted for comment.

The Big Impact
January - March 2023 eBook

How is 2023 shaping up for Asia’s travel industry?

Read Now

JDS Travel News JDS Viewpoints JDS Africa/MI